Financing Resilience against Natural Disasters

Saon Ray, Samridhi Jain and Vasundhara Thakur
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Samridhi Jain: Indian Council for Research on International Economic Relations (ICRIER)

Indian Council for Research on International Economic Relations (ICRIER) Report from Indian Council for Research on International Economic Relations (ICRIER), New Delhi, India

Abstract: One of the most discussed issues of modern times is that of problems related to the scarcity of funds in dealing with the increasing catastrophic events due to volatile climatic conditions. Disaster Risk Resilience (DRR) can be interpreted as global policies working for improving disaster risk reduction and building efforts for resilience worldwide. The report analyses the applicability of popular instruments for emerging economies, the role of the private sector, and challenges to implementation of resilience framework. The Sendai Framework for Disaster Risk Reduction (SFDRR) is the guiding principle for disaster risk reduction policies and efforts to improve resilience worldwide. The SFDRR synergises risk reduction efforts with sustainable development goals. Our report links global efforts for disaster risk reduction with resilient infrastructure. With the increased frequency of disasters, the economic burden of the states is rising not just with respect to 'build back better', but also regarding creation of resilience. Infrastructure network and asset creation have to be seen in the context of efforts to combat climate change, reduce disaster risk, and promote sustainable development. Infrastructure creation should account for climate and disaster resilience (OECD, 2018). Hence this report tries to compile a set of problems and preventive measures surrounding disasters in India.

Keywords: disasters; SFDRR; natural disasters; Insurance Linked Securities; icrier (search for similar items in EconPapers)
Pages: 20 page
Date: 2019-09
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